Xin Lang Cai Jing·2026-02-11 11:32Summary of Key Points Core Viewpoint Goldman Sachs (GS.US) reported a total market value of $810 billion in its fourth-quarter holdings as of December 31, 2025, reflecting a decrease of approximately 1.22% from the previous quarter's $820 billion [1][2]. Holdings Overview - Goldman Sachs added 671 new stocks, increased holdings in 3,027 stocks, and sold out of 555 stocks during the fourth quarter [1][2]. - The top ten holdings accounted for 22.11% of the total market value [1][2]. Major Holdings - Nvidia (NVDA.US) was the largest holding with approximately 166.66 million shares valued at about $31.08 billion, representing 3.83% of the portfolio, a decrease of 0.82% from the previous quarter [2][4]. - Apple (AAPL.US) ranked second with around 90.92 million shares valued at approximately $26.94 billion, making up 3.32% of the portfolio, an increase of 2.60% [3][4]. - Microsoft (MSFT.US) was third with about 51.36 million shares valued at approximately $24.84 billion, accounting for 3.06% of the portfolio, a decrease of 5.86% [3][4]. - The SPDR S&P 500 ETF (SPY.US) was fourth with around 32.92 million shares valued at approximately $22.45 billion, representing 2.77% of the portfolio, a decrease of 9.01% [3][4]. - Alphabet Inc. (GOOGL.US) was fifth with approximately 52.19 million shares valued at about $16.34 billion, making up 2.01% of the portfolio, an increase of 1.47% [3][4]. Trading Activity - The top five purchases included GOOGL, AAPL, AAPL call options, DIA, and TSLA call options [5][6]. - The top five sales included SPY put options, QQQ call options, SPY call options, MSFT, and IWM put options [5][6]. Cryptocurrency Exposure - Goldman Sachs disclosed a significant cryptocurrency exposure, holding over $2.36 billion in digital assets, which constitutes 0.33% of its reported investment portfolio [6][7]. - The firm held approximately 21.2 million shares of various spot Bitcoin ETFs valued at $1.06 billion, a decrease of 39.4% from the previous quarter [8]. - The firm also held about 40.7 million shares of spot Ethereum ETFs valued at approximately $1 billion, down 27.2% from the previous quarter [8]. - Notably, Goldman Sachs increased its holdings in newly launched spot XRP and Solana ETFs, valued at $152.2 million and $108.9 million, respectively [8].